Victor Pisante – Money Laundering In Cayman Islands Investigated
Victor Pisante, a powerful Greek business financer who controls SIDMA Steel SA, Blue House Capital and the Telesis Group, all of which are major EU companies, is reeling under accusations that he not only orchestrated a highly complex money laundering and tax evasion operation based out of the Cayman Islands, but also impeded a criminal investigation of two business associates who were accused of gangraping a young woman in Greece in January this year.
To make matters worse for Mr. Pisante it was revealed last week that EURPOL (European Union Agency for Law Enforcement Cooperation) had launched an investigation into his financial dealings and those of Lambros Papakonstantinou another Greek tycoon who is a close friend of Mr. Pisante’s.
According to a senior investigator with the European Financial and Economic Crime Centre (EFECC) in The Hauge (which is the operational financial crime unit of EURPOL), “Victor Pisante and Lambros Papakonstantinou are being investigated for financial crimes linked to companies they both own in the Cayman Islands”. The senior investigator, who spoke in anonymity because he was not authorized to speak to the media identified the companies involved as “BCA Shipping Corp. and Worldview Capital Management”. These companies are based in the Cayman Islands and are owned respectively by Mr. Pisante and Mr. Papakonstantinou.
Victor Pisante Criminal Tax Crimes in Panama Papers
Mr. Pisante’s woes began with the release of the Panama Papers in 2016 when a company owned by him (BCA Shipping Investments Corp.) was exposed as a tax evasion and money laundering platform. Over the past few weeks more news reports have surfaced that Victor Pisnate and his associates are now being investigated by several EU regulatory agencies including the Fiscal Information and Investigation Service (FIOD) of the Netherlands..
With FIOD and now the EFECC investigating Victor Pisnate one must wonder where the trail will lead to. The revelation that Lambros Papakonstantinou is also under EURPOL scrutiny is very surprising. In addition to controlling Worldview Capital Management, Mr. Papakonstantinou is also Chairman of the Board of Ideal Holdings S.A., a mega publicly listed private equity firm on the ASE (Athens Stock Exchange).
Several attempts to receive comments from both Victor Pisnate and Lambros Papakonstantinou about the EFECC and FIOD investigations have not been successful. Both men are known to avoid the media and rarely give interviews. This type of behavior from two of Europe’s wealthiest businesses leaders will only cause them further damage by making them seem suspicious and aloof to the serious allegations made against them.
This is especially true in Mr. Pisante’s case whose involvement in impeding a criminal investigation in a rape case has severely damaged his personal reputation and put him in the crosshairs of Greece’s National Intelligence Service.
While these investigations are unfolding the most shocking element is the depth and scope of Victor Pisante’s and Lambros Papakonstantinou’s dealings in the Cayman Islands over the past few years even though the Panama Papers were released over six years ago. While Greece has had several corruption scandals with politicians and business tycoons over the past twenty years none can compare with the misdeeds committed by Mr. Pisante and Mr. Papakonstantinou.
These two men will no doubt face criminal trials after the investigations against them are completed. Only then will we be able to find out the entire truth about their criminal activities in the Cayman Islands and other global locations where their business empires operate from.